15 Best Accounting Software for Businesses in 2024

Accounting software is a financial solution to streamline your business process by managing invoices, payments, receipts, tax compliance, bookkeeping, recording transactions and reporting.

Managing your business’s financial data is a special kind of stress. Your business is growing, but a manual application like Excel or Google Sheets won’t grow with you. While not every solution will be a perfect fit, we’ve done our best to break down the highlights of the top accounting software that can meet the needs of small, medium, and large teams.

We explore popular accounting software based on the target business size, core features, advanced capabilities, pricing, and value for money in this article to help you with the decision-making process.

FreshBooks – Best Overall
QuickBooks – Best for Small to Midsize Businesses
Sage – Best for Midsize to Large Businesses
NetSuite – Best for Enterprise Businesses
Wave – Best Free Accounting Software
Xero – Best for Online Accounting
Dext – Best for Receipts Management
Melio – Best for Bill Payments
Zoho Books – Best for E-Commerce Business
AccountsIQ – Best for Automation
BILL – Best for Payments and Cash Flow
ZarMoney – Best for Scalability
Bonsai – Best for Self-Employed and Freelancers
AccountEdge Pro – Best for Windows and Mac Users
Patriot Accounting Software – Best for Payroll and Accounting
FreeAgent – Best for Businesses in UK
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Core Functionality

Invoicing, Expenses
Ideal for Company Size

Small to Medium
Integration with other Business Software

Excellent

$19/month

50% off for first 6 months

FreshBooks started as a Toronto, Canada startup in 2003. FreshBooks is a popular cloud-based accounting tool great for invoices, payments, and tracking expenses.

FreshBooks offers affordable pricing, scalability, and tailored solutions that meet growing companies’ unique financial management needs.

FreshBooks includes plans for freelancers, self-employed individuals, teams with contractors, and teams with employees. The pricing model offers month-to-month and annual billing options. Their lowest plan is Lite which starts at $19 per month billed monthly or $228 billed annually. With Freshbook’s current discounts, it’s $7.60 per month, billed monthly, or $136.80 billed annually. The cost to add team members is $11 per user per month.

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Advanced reporting for business health, taxes, forecasting, and time tracking.
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All plan tiers have unlimited estimates and custom invoices.
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147 integrations with apps like Trello, Zoom, Stripe etc.
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Recurring payments with secured credit cards and set up client retainers.
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Easy checkout link for clients who prefer services with pre-setup costs.

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Easy learning curve.
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Free downloadable templates.
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Free invoice generator hosted on their website.

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It can be costly for startups, new businesses, and big teams with tight budgets.
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Only the Premium and Select plans allow invoices to unlimited clients.
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Only the Select plan allows you to remove branding from client emails.
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Only the Select tier comes with reduced transaction fees for credit cards

Core Functionality

Comprehensive
Ideal for Company Size

Small to Medium
Integration with other Business Software

Excellent

$15/month

50% Off for 3 months

QuickBooks is a cloud-based and super popular accounting software for invoices, expenses, inventory, receipts, and in-depth reporting. QuickBooks is one of Intuit’s first business software after Intuit was founded in 1983 in California. Other solutions offered include TurboTax, CreditKarma, and Mailchimp.

QuickBooks stands out for small to midsize businesses by offering user-friendly accounting solutions with customizable invoices, easy expense tracking, and simplified cash flow management.

Quickbooks has monthly pricing for their plans. Their lowest plan is Simple Start at $30 per month billed monthly and with their current sale offering 3 months at 50% off, it’s $15 monthly.

When you checkout you can choose to purchase one of their payroll plans, their starting plan Payroll Core is $45 per month and $22.50 per month with the current discount. You can also avail of an additional service of assisted bookkeeping with experts for $50 per month.

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Automated bookkeeping.
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Mileage tracking for travel.
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Customizable reporting and organization.
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Ability to import transactions and bills while sharing books with your accountant.
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View cash flow for in-person and online payments in the dashboard.
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QuickBooks checking account with simultaneous reporting via Green Dot Bank.

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Sleek and updated user interface.
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Ideal for small and medium-sized businesses.
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The Essentials, Plus, and Advanced plans all come with built-in user seats rather than per-user pricing, like most accounting solutions.

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Lower-tier plans without discounts are more expensive than competitors.
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Most advanced capabilities like time tracking, payroll, and live-assisted bookkeeping require a separate purchase.
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Not designed for major enterprises, see QuickBooks Enterprise for large teams’ offerings.
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Steep learning curve.

Core Functionality

Comprehensive
Ideal for Company Size

Medium to Large
Integration with other Business Software

Moderate

$58.92/month

30 days free trial

Sage is an accounting application most suitable for big teams that need advanced reporting, budgeting, and invoice management. Sage was founded in 1981 in the UK and offers various business solutions for CRM, HR, time tracking, payroll, and more. Enterprise teams may also consider Sage Intacct, which includes accounting solutions with payroll, and HR functionality.

Plan tiers in Sage can be monthly and annual. Their first plan, Pro Accounting, allows one user and starts at $58.92 per month billed monthly or $595 billed annually.

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Fraud protection with advanced cybersecurity.
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Advanced automation and syncing with payments, banking, and your inventory for faster workflow.
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Super advanced reporting with over 150 use case-specific reports, batch reporting, and customization.
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Perfect for big teams that need detailed financial management for projects
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Inventory and job management.
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Cash Flow Manager for tracking billable expenses and revenue.

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Easy to navigate UI.
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Feature-rich and good for teams that need strong reporting insights.

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Too expensive for startups, freelancers, and small businesses.
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Fewer third-party integrations compared to competitors.

Core Functionality

ERP
Ideal for Company Size

Medium to Large
Integration with other Business Software

Good

NetSuite by Oracle is an online business accounting software for transactions, taxes, and automation. NetSuite is Oracle’s cloud-based ERP solution with over 37,000 users globally. Oracle, first called Software Development Laboratories, was founded in California in 1977.

NetSuite is best suited for Enterprise Businesses because its scalable cloud-based ERP system supports global operations and real-time financial consolidation.

NetSuite cloud accounting software offers an annual license depending on the base features, the add-on capabilities you want, and the number of users you will need.

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Cash flow management.
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Real-time metrics.
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Automated account reconciliations.
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Managed data accuracy to eliminate errors like duplicates or broken formulas.

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Plenty of advanced features for teams managing complex data.
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NetSuite’s cloud-based architecture allows enterprises to scale operations effortlessly, accommodating growth
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Supports multi-currency transactions and compliance with international accounting standards like IFRS and GAAP.

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Very complex software that isn’t ideal for beginners.
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Hidden pricing that requires legwork to get.

Core Functionality

Invoicing, Expenses
Ideal for Company Size

Small Businesses
Integration with other Business Software

Limited

$15/month

Free forever starter plan

A simple accounting software that is popular for its affordability is Wave. Wave provides unlimited invoicing and estimates in all plans, transaction automation, and automated reminders for clients with late payments. The company started in 2009 and launched Wave accounting software in 2010 in Canada.

Wave has two simple plans, Starter and Pro. The Starter plan is free. The Pro plan starts at $16 per month, billed monthly, or $170 per year, billed annually.

Wave’s free plan offers core accounting features with a user-friendly interface, appealing to those seeking cost-effective financial management solutions.

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Unlimited estimates, invoices, and bookkeeping records.
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Mobile app to send invoices wherever you are and manage cash flow in an intuitive dashboard.
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Business owners can even add their branding to the free version, which is not true for most accounting software.
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Automate importing and merging for bank transactions.
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Track receipts and expenses while sending late payment reminders.
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Offers add-ons for payroll and hiring bookkeepers to expand in-product capabilities.
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Offers the Starter plan an online payment add-on with a 2.9% $0.60 interest rate for each credit card transaction.

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Low-cost accounting software compared to most competitors.
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Perfect option for freelancers, startups, and new teams.

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It may not be the best for large teams that need advanced analytics, financial reports, and data management.
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Limited customer support.

Core Functionality

Comprehensive
Ideal for Company Size

Small to Medium
Integration with other Business Software

Moderate

$14.50/month

50% off for 6 months

Xero is a worthwhile virtual accounting solution for small and medium virtual teams. It works well with managing taxes, especially for contractors, project budgets, and staying on top of analytics for cash flow.

Xero pricing starts in their Early plan at $15 per month but with the current discount, it’s 75% off for the first three months, making it $3.75 per month.

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Online invoicing and automation process.
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Scheduling batch payments and setting up bank reconciliations in bulk.
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All plans allow Gusto as an add-on to automate payroll and allow employees to access paystubs and W-2s virtually.
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The mobile app is just as fast and intuitive for managing invoicing, projects, and tracking cash flow.

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24/7 online support for all plans.
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Easy and fast UI for beginners to navigate.

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Advanced analytics and project cost tracking are reserved for their highest-tier plan.
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Free plan has limited integration capabilities.

Core Functionality

Expense Management
Ideal for Company Size

Small to Medium
Integration with other Business Software

Moderate

Dext is a great online accounting solution for managing as well as extracting bank statements and receipts. The London company started in 2010 when they bought Receipt Farm and was renamed Receipt Bank, in 2021 they rebranded as Dext.

The software is designed for pulling data for general finances, accounting data, and sales transactions.

The subscription model offers a different selection of plans depending on your needs. Dext offers three products: Dext Prepare, Dext Commerce, and Dext Precision.

Dext’s cheapest plan starts at $24 per month for upto 5 users with a limit of 250 documents. They also offer customized plans for 15 or more users, starting at $69 per month.

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Bank statement, invoice, receipt extraction in Dext Prepare.
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eCommerce integrations, sales expenses, transaction rules, data mapping, multi-currency, and advanced exports in Dext Commerce.
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Advanced analytics tools, data monitoring, and sandboxing in Dext Precision.

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Plenty of plans to choose from based on your use case.
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Dext Commerce plans can be good for online teams with clients in other countries.
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Great for medium and large businesses.

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Too many plans to choose from, and most are too costly for startups and even some small businesses.

Core Functionality

Payment Processing
Ideal for Company Size

Small Businesses
Integration with other Business Software

Moderate

Feature-dependent

Free Base Plan

Melio is a cloud-based accounting software designed to simplify bill payments, offering businesses an efficient way to manage and optimize their financial transactions.

The company started in 2018 and is headquartered in New York.

With Melio, users can combine bills going out to the same vendor, splitting one bill into several payments, and arranging recurring payments or necessary expenses.

Melio is a semi-free accounting tool to manage bills, payments, and forms. You incur costs with the software depending on the action you want to complete. ACH bank transfers are free, checks are $1.50, cards have a 2.9% fee, and international payments are a $20 flat fee.

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Bill management and easy bill capture.
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Unlimited users.
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Tracking payments.
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Ability to accept international payments.
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Workflow with approval steps.
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Cashflow with the ability to pay business expenses with a credit card.

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Free to use and great for teams of any size.
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Can handle global clients.
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Unlimited users make it more affordable for medium and big teams.

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Not the best choice for teams with workflows that need to be managed with analytics and robust automation.

Core Functionality

Comprehensive
Ideal for Company Size

Startups, Small Businesses
Integration with other Business Software

Excellent

$15 per month

Free forever for less than $50K revenue

Zoho is a business suite comprised of many robust software solutions. Their offering for accounting and bookkeeping is Zoho Books. With Zoho Books, you can manage clients, invoices, projects, and timesheets.

Zoho Books is best suited for E-Commerce businesses because it offers seamless integration with major online marketplaces and payment gateways, automates sales and inventory management, and provides analytics tailored for online retailers.

The pricing model had 6 different tiers and complex features to scale for teams of all sizes. Zoho Books’ starting plan is Free, allows 1 user with their accountant, and is only for companies under 50,000 in revenue per year.

Their next plan up includes 3 users and is $20 per company per month, billed monthly, or $15 per company per month, billed annually. Each tier includes a set number of users, and additional users for $3 a month billed monthly or $2.50 a month billed annually.

<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Recurring invoices, and the ability to create in multiple languages.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Mileage and expense tracking.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Custom views.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Custom roles and custom fields.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Project task and profitability management.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Reporting.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Cashflow forecasting.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Budgeting.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Automatic exchange rates, multi-currency, and currency adjustments.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Approvals for sales.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Stock tracking.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Integrates with Zoho CRM, Zoho Expense, Zoho Analytics, and Zoho Inventory for upgraded functionality.

<img alt="Advantage" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/pros.svg" decoding="async" src="data:image/svg xml,”>
Wide selection of affordable plans for different stages of company growth.
<img alt="Advantage" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/pros.svg" decoding="async" src="data:image/svg xml,”>
Good for online businesses with clients in different countries.
<img alt="Advantage" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/pros.svg" decoding="async" src="data:image/svg xml,”>
Email support in their Free plan and Email, Chat, and Voice support in all paid plans.

<img alt="Disadvantage" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/cons.svg" decoding="async" src="data:image/svg xml,”>
Has a steep learning curve.
<img alt="Disadvantage" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/cons.svg" decoding="async" src="data:image/svg xml,”>
Not be the best choice for enterprises that need more complex financial data management.

Core Functionality

Business Intelligence
Ideal for Company Size

Medium to Large
Integration with other Business Software

Excellent

AccountsIQ is the best accounting software for complex workloads. AccountsIQ enables automated financial reporting and analysis, with the capability to generate detailed reports and insights tailored to different stakeholders.

The AIQ Cloud accounting software began in 2004 and now is utilized by 4,000 teams globally.

The pricing model is in Euros or GBP. The starting plan is Essentials (AIQ1), which is about $215 USD, per month. You can’t go to check out or make an account, unfortunately, to purchase you need to contact sales and schedule a demo.

<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Business intelligence.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Automated expense management.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Real-time transaction tracking.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Approvals for workflows.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Sandboxing for your databases.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Manage high-volume data and offer actionable insight into your financial data.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
3 level GL coding of financial data for managing your general ledgers.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Compliant with UK’s value-added tax (VAT) by making taxes digital initiative (MTD) and has group VAT MTD in higher tiers.

<img alt="Advantage" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/pros.svg" decoding="async" src="data:image/svg xml,”>
Feature-rich with advanced automation and insights.
<img alt="Advantage" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/pros.svg" decoding="async" src="data:image/svg xml,”>
Great for more established businesses with complex financial data.

<img alt="Disadvantage" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/cons.svg" decoding="async" src="data:image/svg xml,”>
May be too costly for some small businesses and most freelancers.
<img alt="Disadvantage" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/cons.svg" decoding="async" src="data:image/svg xml,”>
Very steep learning curve.

Core Functionality

Payment Management
Ideal for Company Size

All
Integration with other Business Software

Excellent

BILL is an accounting solution with an array of pricing options to manage payments, expenses cash going in and out, accounts payable (AP), and accounts receivable (AR). Founded in 2006 in California, BILL is used by 460,000 businesses, and 100 of the best US accounting firms.

Plans depend on the different needs of your team. Potential buyers will be able to choose from subscriptions designed for businesses or accountants. There are subscriptions for AP, AR, AP & AR, and Spend & Expanse. Their Spend & Expense starts at $0 per user per month. You can apply for a credit line from 500,000 to 5 million, start requesting funds, and manage your budget, and spending.

<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Tools for managing transactions, bills, and invoices.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Payment approvals and automatic routing.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
ACH payments and International payments.

<img alt="Advantage" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/pros.svg" decoding="async" src="data:image/svg xml,”>
Great for bigger teams.
<img alt="Advantage" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/pros.svg" decoding="async" src="data:image/svg xml,”>
Allows teams with niche use cases like AR or AP to only spend on what they need and eliminate the features they don’t need.
<img alt="Advantage" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/pros.svg" decoding="async" src="data:image/svg xml,”>
Live chat and phone support in all plans.

<img alt="Disadvantage" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/cons.svg" decoding="async" src="data:image/svg xml,”>
Most of their paid plans are very costly and best suited for medium-size businesses rather than small businesses.

Core Functionality

Comprehensive
Ideal for Company Size

All
Integration with other Business Software

Moderate

ZarMoney is the best fit for teams looking for cloud-based software with plans for established small, medium, and semi-large companies. It’s a good accounting platform for managing transactions, inventory, and reporting. The company was founded in 2006 in California.

ZarMoney offers customizable features that can adapt to a business’s growing needs – from basic accounting, invoicing and expense tracking for small startups to advanced inventory management and detailed financial reporting for larger enterprises. This allows businesses to expand their operations without needing to switch to a different accounting software, making it a versatile solution across all stages of business growth.

Subscriptions have included user amounts and costs are more determined by team size, with all plans having the same core features, excluding customization in the highest tier. Their lowest plan is $20 per month for one user, and their highest tier is $350 per month for over 30 users.

<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Detailed inventory and FIFO cost methods.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Invoice, expenses, and bill management.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Accept ACH payments and credit cards online.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Allows ACH payments and eChecks, with a rate of .75% up to $5.00 per transaction.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Recurring payments.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Restricted IP addresses.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
AR and AP reporting.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Custom dashboard and advanced user permissions.

<img alt="Advantage" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/pros.svg" decoding="async" src="data:image/svg xml,”>
Full of strong features and offers flexible pricing to scale with growth.
<img alt="Advantage" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/pros.svg" decoding="async" src="data:image/svg xml,”>
Good choice for online businesses that need to manage transactions.

<img alt="Disadvantage" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/cons.svg" decoding="async" src="data:image/svg xml,”>
Very costly for teams with 30 users or more.

Core Functionality

Business Operations
Ideal for Company Size

Freelancers, Small Businesses
Integration with other Business Software

Limited

Professionals with small to mid-size workflows may enjoy Bonsai as their accounting application. It will help with scheduling, invoicing, payments, proposals, and workflow management. The company was started in 2023 and is headquartered in California.

Bonsai offers a tailored suite of tools for proposal creation, contract management, invoicing, and tax preparation, all designed to simplify the administrative side of freelancing, allowing professionals to focus more on their work and less on paperwork.

Bonsai has monthly and annual pricing, with their Starter plan being $21 per month, billed annually. Their current discount offers the first 2 months free for yearly billing. You can add on team members for $10 per user per month.

<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Client CRM.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Offers add-on for managing taxes.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Time tracking.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Event scheduling with Calendly integration.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Hiring form templates.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Subcontractor management.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Integrate with apps like QuickBooks and Zapier.

<img alt="Advantage" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/pros.svg" decoding="async" src="data:image/svg xml,”>
Plans are well suited for established freelancers and small businesses.
<img alt="Advantage" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/pros.svg" decoding="async" src="data:image/svg xml,”>
Strong choice for teams in need of both client and contractor management.

<img alt="Disadvantage" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/cons.svg" decoding="async" src="data:image/svg xml,”>
Pricing is within the average range but isn’t the best for startups and less established teams.

Core Functionality

Desktop Accounting
Ideal for Company Size

Small to Medium
Integration with other Business Software

Limited

AccountEdge is an on-premise, desktop accounting software. AccountEdge lets you manage sales, invoices, expenses, inventory, data, contacts, banking, and time. The AccountEdge software started out in 1989, but their company Acclivity began in 2005 in New Jersey, before being acquired by Priority Software in 2018. The software helps over 100,000 small companies globally but with North America as their primary market.

All plans have access to base features like general ledgers, financial reporting, bank reconciliation, data backups, and password protection.

AccountEdge Pro offers enhanced data control and security, allowing users to manage their finances without relying on a constant internet connection, while still providing the option for cloud collaboration to ensure flexibility and accessibility when needed via the AccountEdge Connect.

Pricing is based on the number of users you need and the type of hosting you prefer. They have subscriptions to run on your desktop or the option to host on your own secure cloud desktop server for your team. Phone support is available as a $10/mo add-on.

<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Credit card processing with the lowest rates at 1.79%.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Discount of 25% on your first order of professional business checks and tax forms.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Payroll is a $20 per month add-on for unlimited employees.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Support is offered via email for desktop-based software plans and technical support is free for cloud server plans.

<img alt="Advantage" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/pros.svg" decoding="async" src="data:image/svg xml,”>
Compatible with both Mac and Windows operating systems.
<img alt="Advantage" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/pros.svg" decoding="async" src="data:image/svg xml,”>
Gives option of cloud collaboration through AccountEdge Connect.
<img alt="Advantage" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/pros.svg" decoding="async" src="data:image/svg xml,”>
Greater control over data as it is stored locally.

<img alt="Disadvantage" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/cons.svg" decoding="async" src="data:image/svg xml,”>
While not the most expensive on the list, you can find cheaper if you have a strict budget.
<img alt="Disadvantage" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/cons.svg" decoding="async" src="data:image/svg xml,”>
Need to invest in hardware to ensure data security.
<img alt="Disadvantage" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/cons.svg" decoding="async" src="data:image/svg xml,”>
Collaboration is tough as the software is location-dependent.

Core Functionality

Payroll and Accounting
Ideal for Company Size

Small
Integration with other Business Software

Limited

Patriot Accounting Software offers subscriptions for both accounting and payroll needs for bigger teams that still want affordable and flexible plans. With Patriot accounting app, you can manage payments, expenses, invoices, forms, bank transactions, and account reconciliation. Patriot Software started in 1986, is headquartered in Ohio, and serves over 50,000 teams in the United States.

Subscriptions start at $20 per month for the Accounting Basic plan and $30 for the premium plan that includes invoicing and business expense tracking.

<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Unlimited payments, invoices, customers, and team users.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
1099 virtual filing and printing.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Account reconciliation and importing for bank transactions.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Templates for invoices.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Recurring payments and payment reminders.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
All Patriot tiers have phone, chat, and email support.

<img alt="Advantage" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/pros.svg" decoding="async" src="data:image/svg xml,”>
Offers mobile responsive web app instead of a mobile app that requires you to download it on your phone.
<img alt="Advantage" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/pros.svg" decoding="async" src="data:image/svg xml,”>
More cost-effective than other accounting apps by offering unlimited users.
<img alt="Advantage" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/pros.svg" decoding="async" src="data:image/svg xml,”>
Promises dedicated account team based in the US.

<img alt="Disadvantage" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/cons.svg" decoding="async" src="data:image/svg xml,”>
Available only in the United States.
<img alt="Disadvantage" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/cons.svg" decoding="async" src="data:image/svg xml,”>
Complex reporting, inventory management features etc. are unavailable.

Core Functionality

Comprehensive
Ideal for Business Size

Small
Integration with other Business Software

Moderate

£16.50/month

50% off first 6 months

Those looking for simple accounting software with equally simple pricing can benefit from FreeAgent. It can manage invoices, expenses, bank transactions, and project costs.

The software company was developed in 2007 in Edinburgh, Scotland, and acquired by NatWest Group in 2018. They are used by over 150,000 small teams.

Pricing for FreeAgent is $22 per month, billed monthly.

<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Project performance and cost tracking.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Invoices, estimates, expenses, and banking tools.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Time tracking.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Dashboard for monitoring cash flow and tax deductions.
<img alt="Key feature" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/feature.svg" decoding="async" src="data:image/svg xml,”>
Multi-currency invoices.

<img alt="Advantage" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/pros.svg" decoding="async" src="data:image/svg xml,”>
Simple and affordable pricing compared to competitors.
<img alt="Advantage" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/pros.svg" decoding="async" src="data:image/svg xml,”>
Strong banking integration

<img alt="Disadvantage" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/cons.svg" decoding="async" src="data:image/svg xml,”>
Limited features for large organization with complex needs such as integration with inventory management system etc.
<img alt="Disadvantage" data-src="https://geekflare.com/wp-content/themes/gf/src/CustomTheme/Theme/Assets/Icons/cons.svg" decoding="async" src="data:image/svg xml,”>
Not suitable for global businesses as it is more UK-focussed.

Here’s a summary of the accounting software discussed above.

<img alt="FreshBooks" data-src="https://kirelos.com/wp-content/uploads/2024/05/echo/freshbooks-logo.png" data-url="https://kirelos.com/wp-content/uploads/2024/05/echo/freshbooks-logo.png" decoding="async" src="data:image/svg xml,”> FreshBooks	4.5 /5	$19
<img alt="QuickBooks" data-src="https://kirelos.com/wp-content/uploads/2024/05/echo/quickbooks-time-logo.jpg" data-url="https://kirelos.com/wp-content/uploads/2024/05/echo/quickbooks-time-logo.jpg" decoding="async" src="data:image/svg xml,”> QuickBooks	4.5 /5	$15
<img alt="Sage" data-src="https://kirelos.com/wp-content/uploads/2024/05/echo/sage-invoicing-logo.png" data-url="https://kirelos.com/wp-content/uploads/2024/05/echo/sage-invoicing-logo.png" decoding="async" src="data:image/svg xml,”> Sage	4.5 /5	$58.92
<img alt="NetSuite" data-src="https://kirelos.com/wp-content/uploads/2024/05/echo/Oracle-NetSuite_logo.jpg" data-url="https://kirelos.com/wp-content/uploads/2024/05/echo/Oracle-NetSuite_logo.jpg" decoding="async" src="data:image/svg xml,”> NetSuite	4.0 /5	Custom
<img alt="Wave" data-src="https://kirelos.com/wp-content/uploads/2024/05/echo/wave-logo.png6643261286688.jpg" data-url="https://kirelos.com/wp-content/uploads/2024/05/echo/wave-logo.png6643261286688.jpg" decoding="async" src="data:image/svg xml,”> Wave	4.2 /5	$15
<img alt="Xero" data-src="https://kirelos.com/wp-content/uploads/2024/05/echo/xero-logo.png" data-url="https://kirelos.com/wp-content/uploads/2024/05/echo/xero-logo.png" decoding="async" src="data:image/svg xml,”> Xero	4.5 /5	$14.50
<img alt="Dext" data-src="https://kirelos.com/wp-content/uploads/2024/05/echo/dext-logo.png" data-url="https://kirelos.com/wp-content/uploads/2024/05/echo/dext-logo.png" decoding="async" src="data:image/svg xml,”> Dext	4.2 /5	$24
<img alt="Melio" data-src="https://kirelos.com/wp-content/uploads/2024/05/echo/melio-logo.png" data-url="https://kirelos.com/wp-content/uploads/2024/05/echo/melio-logo.png" decoding="async" src="data:image/svg xml,”> Melio	4.2 /5	Custom
<img alt="Zoho Books" data-src="https://kirelos.com/wp-content/uploads/2024/05/echo/zoho-books-logo.png664326147dd77.jpg" data-url="https://kirelos.com/wp-content/uploads/2024/05/echo/zoho-books-logo.png664326147dd77.jpg" decoding="async" src="data:image/svg xml,”> Zoho Books	4.5 /5	$15
<img alt="AccountsIQ" data-src="https://kirelos.com/wp-content/uploads/2024/05/echo/accountsiq-logo.png" data-url="https://kirelos.com/wp-content/uploads/2024/05/echo/accountsiq-logo.png" decoding="async" src="data:image/svg xml,”> AccountsIQ	4.8 /5	£199
<img alt="BILL" data-src="https://kirelos.com/wp-content/uploads/2024/05/echo/bill-logo.png" data-url="https://kirelos.com/wp-content/uploads/2024/05/echo/bill-logo.png" decoding="async" src="data:image/svg xml,”> BILL	4.2 /5	$45
<img alt="ZarMoney" data-src="https://kirelos.com/wp-content/uploads/2024/05/echo/zarmoney.png" data-url="https://kirelos.com/wp-content/uploads/2024/05/echo/zarmoney.png" decoding="async" src="data:image/svg xml,”> ZarMoney	4.8 /5	$20
<img alt="Bonsai" data-src="https://kirelos.com/wp-content/uploads/2024/05/echo/bonsai-invoice-logo.png" data-url="https://kirelos.com/wp-content/uploads/2024/05/echo/bonsai-invoice-logo.png" decoding="async" src="data:image/svg xml,”> Bonsai	4.5 /5	$21
<img alt="AccountEdge Pro" data-src="https://kirelos.com/wp-content/uploads/2024/05/echo/accountedge-pro-logo.png" data-url="https://kirelos.com/wp-content/uploads/2024/05/echo/accountedge-pro-logo.png" decoding="async" src="data:image/svg xml,”> AccountEdge Pro	4.2 /5	$20
<img alt="Patriot Accounting Software" data-src="https://kirelos.com/wp-content/uploads/2024/05/echo/patriot-software-logo.png" data-url="https://kirelos.com/wp-content/uploads/2024/05/echo/patriot-software-logo.png" decoding="async" src="data:image/svg xml,”> Patriot Accounting Software	4.8 /5	$20
<img alt="FreeAgent" data-src="https://kirelos.com/wp-content/uploads/2024/05/echo/freeagent-logo.png" data-url="https://kirelos.com/wp-content/uploads/2024/05/echo/freeagent-logo.png" decoding="async" src="data:image/svg xml,”> FreeAgent	4.5 /5	£16.50

What is Accounting Software?

Accounting software is use to manage financial data like transactions, expenses, and business account balances. Some versions offer fundamental tracking features, while others provide analytics for deeper insights into your finances.

Accounting software include the following features.

Invoicing
Estimates
Credit card, check, and/or bank transactions
Expense management
Budgeting
General ledger (double-entry bookkeeping) or other bookkeeping features
Accounts receivable (AR)
Account payable (AP)
Balance sheet preparation
Profit and Loss Statements
Mobile access through app.
Automated payment reminders
Database management for financial business data
Financial Reporting
Analytics dashboards (usually monitoring cashflow)
Forecasting or predictive analytics

Advanced accounting software solutions also offer other related capabilities such as payroll services, time tracking, project costs and profitability, HR management, and tax form preparation, either built-in or as an add-on.

How Much Does Accounting Software Cost?

On the low end, most accounting software plans are around $20 to $40 per month, usually not including more than one user (excluding your accountant). The higher tiers can be $100 per month, totaling up to a thousand or more per year. Add-on features may be provided at an extra cost.

Most of the plans offer max 25 users and to get unlimited users, you would require an enterprise plan.

Is Accounting Software Cheap?

In general, no, but there are some free or affordable gems like Wave that are great for startups and new teams. Cheap accounting software for small businesses can be around $15 to $20 per month.Several of the software mentioned, like FreshBooks, QuickBooks, and Xero, are currently running discounts for their plans.

What is the Easiest Accounting Software?

Freshbooks, FreeAgent, Wave, and Xero are some of the easiest accounting software in terms of usability. Their offerings meet the core accounting management features for handling invoices, expenses, transactions, and payments. Each solution is best for everyday accounting needs without overwhelming users with a dense, feature-rich platform. Melio also offers free tools with strong ease of use but is primarily for managing bill payments to contractors and freelancers.

What is the Best Accounting Software for Bookkeeping?

QuickBooks is one of the best and most popular bookkeeping solutions for small and medium businesses. The software is designed to handle daily accounting needs like invoicing and bank transactions while also managing overall financial data with reporting insights. Higher tiers include tools to manage employees, project costs, and overall budget.

While QuickBooks is an impressive software, that does not mean they are the best fit for every business industry. . Zoho Books, FreshBooks, and Xero all also have strong analytics and workflow features to manage your team and they cost similar or less than QuickBooks (with discounts varying between all of them).

Are Accounting Software and Budgeting Software the Same?

Accounting software and budgeting overlap heavily, but are not the same. You can use advanced accounting software for budgeting, but you shouldn’t use budgeting tools as your business accounting solution.

While accounting systems like Sage and Xero offer comprehensive features for tax, inventory, and overall financial management, they might be overkill for simple budgeting needs.

The best budgeting software focuses specifically on helping you track spending, forecast cash flow, monitor bills, and gain insights into your business’s financial health. These tools are often more user-friendly and affordable, making them ideal for business owners.

Is Accounting Software Better Than Spreadsheets?

Yes, absolutely. Accounting software solutions can offer ready-to-go templates, automation capabilities, reporting, and even database management to streamline workflow and ease the burden on your mental plate.

Startups, sole proprietors, budding freelancers, and small businesses can save a lot of money using spreadsheet software. On the other hand, when you use spreadsheet apps you are prone to make mistakes, resulting in financial data loss, which are crucial when making data-driven decisions.

Is it Okay to Use Invoice Software Instead of Accounting Software?

It depends on your requirements. Most accounting systems have invoicing tools but if you do not need to manage payments, business expenses, bank account transactions, etc, then you can use invoice software.

Invoicing software like Zoho Invoice, InvoiceNinja, and PayPal are cheaper than accounting solutions, so you can save cost by forgoing other features. If you do go this route, make sure to see if they integrate with accounting and bookkeeping software so you have that option later on.

What is the Difference Between Accounting Software and Payroll Software?

Accounting tools offer capabilities to manage business finances whereas payroll software helps businesses to pay local or global employees on time while ensuring taxation, payment slips and necessary compliance requirements..

Both applications coincide when it comes to tracking payments and tax forms. Many accounting systems are built with the functionality to handle contractor invoices and tax forms. Payroll add-ons are also very common product offerings by companies that provide accounting solutions.

What Does Accounting Software Do?

Accounting software helps you manage your financial business information. It’s designed to automate and streamline tedious workloads and keep you on top of important bills and payments. More robust systems will offer detailed reporting and analytics.

How Does Accounting Software Work?

Accounting systems are built on the concept of managing and analyzing your financial data. It aids you with business operations by helping you enter, import, extract, organize, and filter data. You can use it for procession online payments and transactions as well as manage Accounts Payable (AP) and Accounts Receivable (AR). Many tools will offer limited or advanced financial reporting to highlight valuable insights.

What are the Benefits of Using Accounting Software?

Accounting software platforms provide the following 6 benefits to businesses.

Automation of business transaction documentation, thereby increasing efficiency
Accuracy and reduction of human errors
Enables better decision-making due to real-time tracking of financial health.
Simplifies compliance to tax laws and financial regulations
Helps in scaling up when a company grows
Cloud-based access for employees from multiple locations

Why Do Small Businesses Need Accounting Software?

Small businesses need accounting software to manage their finances, minimize costly mistakes, and avoid becoming dangerously overwhelmed when it’s time to pay your taxes.

Accounting systems are ideal for ensuring your expenses, income, and cashflow are balanced while planning for ongoing projects and future spending. Whether your company is just budding or beginning to overflow, having software to track every step of the way will save you a giant headache down the road.

How Do I Choose An Accounting Software?

The best way to choose an accounting software is to determine the features your team absolutely needs.

The list you build of features you need from financial business software should consider these questions.

Do you need built-in payroll services or an integration?
Will you need bookkeeping or a general ledger for your data?
Do you need time tracking, timesheets, and any HR management features?
Do you want payroll and tax preparation in your accounting software application?
Will you benefit from help budgeting, creating estimates, or forecasting?
Would software with advanced database management, customizable reports, and analytics be helpful or overwhelming?
Can you really afford software that costs $20-$40 per month, or do you need a free solution?
Are there any additional features offered by the software?
Does the accounting software solution provider offer efficient customer service?

You can decide by brainstorming as a group, reading the reviews of potential business finance software, and viewing YouTube tutorials of potential choices. Many accounting software providers advertise spectacular capabilities that may not work as well in practice. Take note of standout features, user interface preferences, and overall usability.

What Are Other Enterprise Software To Help My Business?

Enterprise software includes monday.com for Project Management, NetSuite for ERP, Salesforce for CRM, Stripe for payments, Rippling for HR.

When choosing a new accounting solution, check on available integrations to ensure it’s compatible with your tech stack and scalable to meet your business growth. Knowing what integrations are available can also help you grow your current tech stack.

15 Best Accounting Software for Businesses in 2024